In the nonprofit world, you’ve likely heard terms like donation, promise to give, and contribution used interchangeably. But each term has a specific meaning—and understanding the differences is critical for accurate financial reporting and compliance.
Cash is king—especially in today’s unpredictable economy. Yet many business owners are flying blind when it comes to cash flow.
Running a nonprofit may not be about profits — but money absolutely matters. To fulfill your mission, serve your community, and grow your impact, your organization needs consistent, reliable funding. Understanding how to raise those funds — and how to measure what’s working — is vital for long-term sustainability.
Non-profit organizations operate with a mission-driven focus, but like for-profit businesses, they must track key performance indicators (KPIs) to ensure financial sustainability, operational efficiency, and mission impact. The right metrics can help leadership make informed decisions, attract donors, and improve program effectiveness. Below, we explore the most critical analytics and KPIs that every non-profit should focus on.
When a sale and leaseback transaction qualifies as a sale, the sale and leaseback components must be accounted for separately.
Sale and leaseback transactions are a strategic financial tool businesses use to unlock cash flow while retaining operational control of critical assets. In such an arrangement, a seller transfers ownership of an asset to a buyer and immediately leases it back. This type of transaction can provide significant benefits to both parties: the seller-lessee gains liquidity and operational flexibility, while the buyer-lessor secures a steady income stream and potential tax advantages. However, determining whether a transaction qualifies as a sale and leaseback under Generally Accepted Accounting Principles (GAAP) involves navigating a complex set of criteria.
Intuit has announced that after May 31, 2024, they will be discontinuing QuickBooks Desktop 2021 software. This includes all versions of 2021 QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Desktop for Mac, and QuickBooks Enterprise Solutions v21. Other Intuit products will also be impacted.
Client Accounting and Advisory Services (CAAS) have emerged as a pivotal component in the modern landscape of financial management. This blog delves into the realm of CAAS, elucidating its significance, core components, and the value it brings to businesses seeking to optimize their financial operations and strategic decision-making processes.
There are two accounting method options when it comes to calculating the taxable income of a business: the cash method and the accrual method. Many businesses have a choice of which method to use for tax purposes. The cash method often provides significant tax benefits for eligible businesses, though some may be better off using the accrual method. It can be beneficial for your business to re-evaluate your accounting method, to ensure that it’s the most advantageous approach for your specific situation.
Do you have your finger on the pulse of your company’s financial health? Having insight into your financial data is key to making strategic decisions that can increase your company’s efficiency and profitability. Financial dashboards are valuable tools to help you gain this insight.
